Kellogg snaps up Pringles

The acquisition of Pringles is a step-change for Kellogg. However, the US cereals giant faces a formidable competitor in savoury snacks in PepsiCo, which has seven of the world's top ten brands and will be focused on rebounding after a challenging year. And Kellogg also faces tough markets in the US and Europe in its core cereals business.

Procter & Gamble has revealed Pringles is attracting "considerable interest" as potential buyer Diamond Foods deals with the fall-out of an accounting scandal that led to the departure of its CEO and CFO.